Canada: Preliminary preparations underway to refurbish Investor Visa Program.
Canada is trying to provide a brand new look to its all-time famous Investor Visa program. The change will be more directly related to wager and better future concern regarding its value.
Recently Immigration Minister of Canada Mr. Jason Kenney has provided his insight about the value and need of this renovation. He has shown much motivation concerning the value of this all-time famous program and its continuity for future. He has also expressed that the current need to give Canada a solid economical standing can be succeeded by this program. So it shall be continued as it and should not have fondled like taking a credit rather giving an opportunity to grow.
In this wake, the program which was so popular that a number of private chartered companies had landed their corporate settings in Canada Last year was closed after a brief meeting of just thirty minutes. The reason was not just the popularity or a huge Back Log of demands. Jason Kenney has asked the administration straight forward to increase the Visa requirement of $800,000 least venture is not adequate to serve for better of this country’s economy.
It is also to be noted that the famous Investor program is not just beneficial for the Canadian economy but also for the Visa holder as this was the fastest way to get normalized quickly rather than other relevant programs. So Kenney’s intentions are clear that to circulate the income which the foreign investors have provided and rapidly supplement Canada’s Economy.
He says a lot of these assets are just idle in their accounts and to make them more convenient for economy a better economical setup is needed. He said boldly that he has always alleged that Canada is underrepresenting itself through its Investor Immigration Program. He strongly criticized that the required sum for this category is too low. Also that people are getting normalized easily while there are a lot of many who could provide more income and do well for this country.
Kenney while referring to the same Visa category for U.S. and Australia held that their requirement of Visa is over million U.S. dollars and that has always positively affected their economy. So he has finally put forward a change in the Investor Visa Category. That is to increase the $800,000 least venture.
Making a provincial analysis Kenney also suggested the values of increasing the Visa rate. He has clearly shown that if this requirement is not met then Canada would face crisis in near future both financially and economically. The annual provincial statistics were clearly showing that the future demands of provinces like Quebec and Ontario will not be met if the current cheap Visa program is continued.
According to Keeney this new overhaul will be fully functional in 2013. Applications for new program are invited from this year in the month July and onward.